Patriot Transportation’s 2Q Profit Rises

Tank and bulk carrier Patriot Transportation Holding’s fiscal second-quarter net income rose to $1.7 million, or 18 cents a share, from $1.4 million, or 15 cents, a year ago.

Revenue for the quarter ended March 31 rose 3.9% to $28.6 million. Transportation segment revenues rose $1.4 million to $23 million.

Patriot undertook a 3-for-1 stock split in the form of a dividend on Jan. 3, and new shares were issued on Jan. 17. 

Patriot operates tank carrier Florida Rock & Tank Lines and a real estate business.